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Glasgow-headquartered Maven raised the capital via a £1.6m equity fundraising from its UK-wide co-investor network, plus a bank development loan of £3m.

The Clackmannan development is situated to the east of Stirling and comprises 77 family homes that are expected to sell for between £145,000 and £240,000. A further 35 affordable housing units will be built under contract with Castle Rock Edinvar Housing Association.

The Maitland Gardens development of 52 private homes is located in the Moorpark area of Renfrew. Purchase prices are expected to range between £160,000 and £170,000.

"We are delighted to be working with Ambassador Homes on these high-quality residential development projects and are pleased to be able to play a small part in helping to address Scotland's well-documenting housing shortage," said Colin Anderson, investment director at Maven.